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| Home > Statutes > Usa Maine |
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USA Statutes : maine
Title : Title 33. PROPERTY
Chapter : Chapter 10-A. TIME SHARES
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Title 33 - §591. Definitions
Title 33: PROPERTY
Chapter 10-A: TIME SHARES
§591. Definitions
As used in this chapter, unless the context indicates otherwise, the following terms have the following meanings.
[1983, c. 248, § 3 (new).]
1. Manager. "Manager" means any person, other than all time-share owners or the association, designated in or employed pursuant to the
time-share instrument or project instrument to manage the time-share units.
[1983, c. 248, § 3 (new).]
2. Managing entity. "Managing entity" means the manager or, if there is no manager, the association of unit owners.
[1983, c. 248, § 3 (new).]
3. Project. "Project" means real property subject to a project instrument containing more than one unit. A project may include units
that are not time-share units.
[1983, c. 248, § 3 (new).]
4. Project instrument. "Project instrument" means one or more recordable documents by whatever name denominated, applying to the whole of a project
and containing restrictions or covenants regulating the use, occupancy or disposition of units in a project, including any
amendments to the document, but excluding any law, ordinance or governmental regulation.
[1983, c. 248, § 3 (new).]
5. Purchaser. "Purchaser" means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable
interest in a time share other than as security for an obligation.
[1983, c. 248, § 3 (new).]
6. Time share. "Time share" means a time-share estate or a time-share license.
[1983, c. 248, § 3 (new).]
7. Time-share estate. "Time-share estate" means any interest in a unit or any of several units under which the exclusive right of use, possession
or occupancy of the unit circulates among the various time-share owners in the unit in accordance with a fixed time schedule
on a periodically recurring basis for periods of time established by the schedule coupled with a freehold estate or an estate
for years in a time-share property or a specified portion thereof.
[1983, c. 248, § 3 (new).]
8. Time-share instrument. "Time-share instrument" means one or more documents, by whatever name denominated, creating or regulating time shares.
[1983, c. 248, § 3 (new).]
9. Time-share license. "Time-share license" means a right to occupy a unit or any of several units during 3 or more separated time periods over
a period of at least 3 years, including renewal options, not coupled with a freehold estate or an estate for years.
[1983, c. 248, § 3 (new).]
10. Time-share owner. "Time-share owner" means a person who is an owner or co-owner of a time share other than as security for an obligation.
[1983, c. 248, § 3 (new).]
11. Time-share property. "Time-share property" means one or more time-share units subject to the same time-share instrument, together with any other
real estate or rights appurtenant to those units.
[1983, c. 248, § 3 (new).]
12. Time-share unit. "Time-share unit" means a unit in which time shares exist.
[1983, c. 248, § 3 (new).]
13. Unit. "Unit" means real property or a portion thereof designated for separate use.
[1983, c. 248, § 3 (new).]
Section History:
PL 1983,
Ch. 248,
§3
(NEW).
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §592. Requirements of time shares
Title 33: PROPERTY
Chapter 10-A: TIME SHARES
§592. Requirements of time shares
1. Specific disclosures. No time share may be conveyed by a developer or conveyed for the first time unless, prior to that conveyance or the execution
of an agreement for the purchase, whichever is earlier, the purchaser is provided, at no cost to the purchaser, with a written
statement containing the following information, all of which shall be current to a point not more than 60 days prior to the
date of delivery to the purchaser.
A. The front cover or first page must contain only:
(1) The name and principal address of the developer and of the project and the location of the time-share property; and
(2) The following statements in conspicuous type.
(a) THIS CONTAINS IMPORTANT MATTERS TO BE CONSIDERED IN ACQUIRING A TIME SHARE. STATE OF MAINE LAW REQUIRES THAT THESE DISCLOSURES
BE MADE BUT NO STATE AGENCY OR OFFICIAL HAS REVIEWED THE INFORMATION CONTAINED IN THIS BOOKLET.
(b) YOU MAY CANCEL THE PURCHASE TRANSACTION WITHIN TEN CALENDAR DAYS FOLLOWING THE DATE OF EXECUTION OF THE CONTRACT OR THE
RECEIPT OF A CURRENT WRITTEN STATEMENT, WHICHEVER IS LATER.
(c) THE STATEMENTS CONTAINED INSIDE ARE ONLY SUMMARY IN NATURE. IF YOU ARE THINKING OF BUYING A UNIT, YOU SHOULD TALK TO YOUR
ATTORNEY AND LOOK AT ALL EXHIBITS, INCLUDING THE DECLARATION, PROJECT INSTRUMENT FLOOR PLAN, PLOT PLAN, BYLAWS AND CONTRACTS.
(d) YOU SHOULD ASK YOUR ATTORNEY AND THE DEVELOPER TO TELL YOU WHAT WILL HAPPEN TO YOUR DEPOSIT, INTEREST IN THE UNIT, OR
COSTS AND EXPENSES IF THE DEVELOPER OR OWNER IS DECLARED BANKRUPT. OBTAIN THE ANSWER FROM THE DEVELOPER IN WRITING.
[1997, c. 83, §1 (amd).]
B. The following pages shall contain, in the following order:
(1) A general description of the time-share property and the time-share units, including, without limitation, the number and
types of units in the time-share property and in any project of which it is a part and the schedule of commencement and completion
of construction of all buildings, units, amenities and improvements;
(2) The maximum number of units that may become part of the time-share property, a statement of the maximum number of time
shares that may be created or that there is no maximum, and the proportion of units the developer intends to rent or market
in blocks of units to investors;
(3) Copies and a brief narrative description of the significant features of the project instrument and time-share instrument
and any documents referred to therein, other than the survey and floor plans; the bylaws; rules; copies of any contracts and
leases to be signed by purchasers at closing; and a brief narrative description of any contracts or leases, the term of which
will or may extend beyond the period of developer control of the association;
(4) Any current balance sheet and a projected budget for the association, if there is an association, for one year after the
date of the first transfer to a purchaser, and thereafter the current budget, a statement of who prepared the budget and a
statement of the budgetary assumptions concerning occupancy and inflation factors. The budget shall include, without limitation:
(a) A statement of the amount, or a statement that there is no amount, included in the budget as a reserve for repairs and
replacement;
(b) A statement of any other reserves;
(c) The projected common expense assessment by category of expenditures for the association; and
(d) The projected monthly common expense assessment for each type of unit;
(5) Any services not reflected in the budget that the developer provides, or expenses that he pays, and that he expects may
become at any subsequent time a common expense of the association and the projected common expense assessment attributable
to each of those services or expenses for the association and for each type of unit and each time-share estate;
(6) Any initial or special fee due from the purchaser at or before closing, together with a description of the purpose of
the fee and method of its calculation;
(7) A description and a statement of the effect on the time-share owners of any liens, defects or encumbrances on or affecting
the title to the project and each time-share unit;
(8) A description of any financing offered by the developer;
(9) The terms and significant limitations of any warranties provided by the developer, including statutory warranties and
limitations on the enforcement thereof or on damages;
(10) A statement that:
(a) Within 10 calendar days after receipt of the current written statement or execution of a contract, whichever is later,
a purchaser may cancel any conveyance or contract for purchase of a unit from the developer; and
(b) If the purchaser elects to cancel, the purchaser may do so by hand delivering a notice of cancellation or by mailing the
notice by prepaid United States mail to the developer. The cancellation must be without penalty and any deposit made by the
purchaser must be promptly refunded in its entirety;
(11) A statement of any unsatisfied judgments against the association, developer or managing entity, the status of any pending
suits to which the association, developer or managing entity is a party and the status of any pending suits material to the
property of which the developer has actual knowledge;
(12) A statement that any deposit made in connection with the purchase of a unit will be returned to the purchaser if the
purchaser cancels the contract within 10 calendar days after receipt of the written statement or contract;
(13) Any restraints on transfer of time shares or portions thereof;
(14) A description of the insurance coverage provided for the benefit of the time-share owners;
(15) Any current or expected fees or charges to be paid by time-share owners for the use of the common elements and other
facilities related to the project;
(16) All unusual and material circumstances, features and characteristics of the project and the units;
(17) The projected common expense assessment for each time share and whether those assessments may vary seasonally;
(18) The extent to which the time-share owners of a unit are jointly and severally liable for the payment of real estate taxes
and all assessments and other charges levied against that unit; and
(19) The extent to which a time-share unit may become subject to a tax or other lien arising out of claims against other time-share
owners of the same time-share unit.
[1997, c. 83, §2 (amd).]
[1997, c. 83, §§1 and 2 (amd).]
2. Restraint upon partition of time-share units. No action for partition of any unit in which time shares are created may lie.
[1983, c. 248, §3 (new).]
3. Cancellation of contract. Any purchaser or prospective purchaser of a time share may cancel a contract or conveyance of a time share by delivering
or mailing a postage prepaid written notice of the purchaser's intention to cancel within 10 calendar days after the date
of any contract or conveyance or within 10 calendar days after delivery of the current written statement required by subsection
1, whichever is later.
[1997, c. 83, §3 (amd).]
4. Time share located outside State. This section shall apply to offers or sales within this State of time shares in property, even if the project is located
outside of this State.
[1983, c. 248, §3 (new).]
5. Application with respect to foreclosures of mortgages. This section shall not apply to offers or sales by financial institutions as defined in Title 9-B of time shares in property
with respect to foreclosure of any mortgage or the delivery of any deed in lieu of that foreclosure.
[1983, c. 248, §3 (new).]
6. Violation. Any violation of this section shall be a violation of Title 5, chapter 10.
[1983, c. 248, §3 (new).]
7. Completion of construction; escrow requirement. Notwithstanding chapter 31, a developer of a time-share project may convey a time-share to a purchaser prior to the time-share
unit containing the time-share being substantially completed, as long as the developer deposits all funds or other consideration
received from or on behalf of the purchaser into an escrow account subject to an escrow agreement with an independent escrow
agent.
A. The escrow agreement must provide that the funds or other consideration may be released only as provided in this paragraph.
(1) If the purchaser gives a valid notice of cancellation pursuant to this section or is otherwise entitled to cancel the
sale, the funds or other consideration received from or on behalf of the purchaser must be returned to the purchaser.
(2) If the purchaser defaults in the performance of any obligation relating to the purchase or ownership of the time-share
following the expiration of the cancellation period set out in subsection 1, the developer shall provide an affidavit to the
escrow agent requesting release of the escrowed funds or other consideration and shall provide a copy of the affidavit to
the purchaser who has defaulted. If, within 7 calendar days of mailing the affidavit, the developer has not received from
the purchaser a written notice of a dispute between the purchaser and the developer or a claim to the escrowed funds or other
consideration, the funds or other consideration received from or on behalf of the purchaser must be immediately released to
the developer.
(3) If no cancellation or default has occurred, the escrow agent may release the funds or other consideration upon presentation
of an affidavit by the developer that:
(a) The cancellation period has expired; and
(b) A certificate or statement of substantial completion has been executed by an engineer or architect or a certificate
of occupancy has been issued by the municipal inspector of buildings for the time-share unit containing the time-share.
[1999, c. 478, §1 (new).]
B. In lieu of any escrow required by this section, the escrow agent may accept a surety bond issued by a company authorized
and licensed to do business in this State in an amount equal to or in excess of the funds that would otherwise be placed in
the escrow account pursuant to this section.
[1999, c. 478, §1 (new).]
C. As used in this subsection, "independent escrow agent" means a financial institution whose accounts are insured by a governmental
agency or instrumentality; an attorney; or a licensed title insurance company, in which:
(1) The escrow agent is not a relative or an employee of the developer or managing entity or of any officer, director, affiliate
or subsidiary of the developer or managing entity;
(2) There is no financial relationship, other than the payment of fiduciary fees or as otherwise provided in this section,
between the escrow agent and the developer or managing entity or any officer, director, affiliate or subsidiary of the developer
or managing entity; and
(3) Compensation paid by the developer to the escrow agent for services rendered is not paid from funds in the escrow account.
[1999, c. 478, §1 (new).]
D. For purposes of paragraph C, an independent escrow agent may not be disqualified to serve as escrow agent solely because:
(1) The escrow agent provides the developer or managing entity with routine banking services that do not include construction
or receivables financing or any other lending activities;
(2) A nonemployee, attorney-client relationship exists between the developer or managing entity and the escrow agent; or
(3) The escrow agent performs closings for the developer or issues owner's or lender's title insurance commitments or policies
in connection with such closings.
[1999, c. 478, §1 (new).]
[1999, c. 478, §1 (new).]
Section History:
PL 1983,
Ch. 248,
§3
(NEW).
PL 1997,
Ch. 83,
§1-3
(AMD).
PL 1999,
Ch. 478,
§1
(AMD).
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §593-A. Utility billing for time-share estates
Title 33: PROPERTY
Chapter 10-A: TIME SHARES
§593-A. Utility billing for time-share estates
1. Definitions. As used in this section, the following terms have the following meanings.
A. "Assessment" means any rate, fee or charge assessed or imposed by a utility for the provision of its service to time-share
units, other than service that is metered or otherwise measured and billed on an individual time-share owner basis.
[2003, c. 526, §1 (new).]
B. "Utility" means a public utility as defined in Title 35-A, section 102, sanitary district established under Title 38, chapter
11 or sewer district as defined in Title 38, section 1251.
[2003, c. 526, §1 (new).]
[2003, c. 526, §1 (new).]
2. Authority of managing entities. Notwithstanding section 593, subsection 2, when a utility provides services to time-share units, the managing entity may
collect and receive money from the time-share owners for the purpose of paying the assessment.
[2003, c. 526, §1 (new).]
3. Authority of utility to require assessment collection. Notwithstanding section 593, subsection 2, on written request of a utility, a managing entity shall collect and receive
money from the time-share owners in accordance with this subsection for the purpose of paying assessments.
A. The utility shall provide the managing entity a combined or total utility bill and any additional information that may be
reasonably useful for the managing entity to allocate the cost of utility service to the time-share owners.
[2003, c. 526, §1 (new).]
B. The managing entity shall maintain an escrow account with a financial institution licensed by the State and deposit any
money collected or received for the utility's assessments in the escrow account within 10 days after collection or receipt.
The escrow account must be established in the names of both the managing entity and the utility. A withdrawal may not be
made from the escrow account without the written agreement of the utility.
[2003, c. 526, §1 (new).]
C. Prior to the delinquency date established by the utility, the managing entity shall pay to the utility all money deposited
in the escrow account under paragraph B for the purpose of paying the assessment. If the amount paid from the escrow account
is not sufficient to discharge all assessments due and owing:
(1) The managing entity shall pay the difference and, in accordance with section 594, place a lien on those time-share estates
whose owners have not contributed their apportioned share to the escrow account; or
(2) At the request of the utility, the managing entity shall provide a list identifying the delinquent owners and their
interests, including periods of ownership, and the utility may proceed to collect the assessments from those interests as
allowed by law. If the utility uses any lien procedure available to it under law to collect delinquent assessments on time-share
estates, any required notice of the lien that the utility sends to a time-share estate owner must also be given to the managing
entity or left at the managing entity's last and usual place of abode or the utility must send to the managing entity by certified
mail, return receipt requested, either a copy of the notice sent to the time-share estate owner or a notice that lists all
time-share estate owners to whom notices have been delivered. For sending the notice or notices to the managing entity, the
utility may receive $5 plus all certified mail, return receipt requested fees and the cost of any photocopying.
[2003, c. 526, §1 (new).]
[2003, c. 526, §1 (new).]
4. Exercise of other utility authority not precluded. Nothing in this section limits the authority of a utility and a managing entity to make other mutually acceptable arrangements
for collection of assessments. Nothing in this section limits the authority of a utility to take any other action available
under law to collect and recover assessments.
[2003, c. 526, §1 (new).]
Section History:
PL 2003,
Ch. 526,
§1
(NEW).
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §593. Taxation of time-share estates
Title 33: PROPERTY
Chapter 10-A: TIME SHARES
§593. Taxation of time-share estates
Notwithstanding the provisions of sections 579 and 580, taxation of time-share estates shall be determined according to this
section.
[1983, c. 407, §1 (new).]
1. Creation of estates. Notwithstanding any contrary rule of common law, a grant of an estate in a unit conferring the right of possession during
a potentially infinite number of separated time periods creates an estate in fee simple having the character and incidents
of such an estate at common law, and a grant of an estate in a unit conferring the right of possession during 3 or more separated
time periods over a finite number of years equal to 3 or more, including renewal options, creates an estate for years having
the character and incidents of such an estate at common law.
[1983, c. 407, §1 (new).]
2. Time-share estates as separate estates. Each time-share estate constitutes for all purposes a separate estate in real property. Each time-share estate shall be
separately assessed and taxed. The filing and discharge of tax liens on more than one time-share estate owned by the same
person are governed by Title 36, section 942-A.
[1987, c. 358, §1 (amd).]
3. Recordation. A document transferring or encumbering a time-share estate may not be rejected for recordation because of the nature or
duration of that estate.
[1983, c. 407, §1 (new).]
4. Collection and receipt of money for taxes; tax bills. The managing entity may collect and receive money from time-share estate owners for the purpose of paying taxes assessed
on time-share estates.
If required by an ordinance enacted by the municipal officers, the managing entity shall collect and receive money from time-share
estate owners for the purpose of paying taxes assessed on time-share estates. The ordinance must also require that the municipality
send the managing entity a tax bill and information necessary to identify the assessed value of each time-share unit. Nothing
in this subsection prevents a municipality from sending separate tax bills to each time-share owner.
Any managing entity that collects taxes shall maintain an escrow account and pay the taxes as provided in subsection 5.
[1991, c. 197, §1 (amd).]
5. Escrow account. If the managing entity collects money for taxes, it shall maintain an escrow account with a financial institution licensed
by the State, and deposit any money collected or received for taxes in the escrow account within 10 days after collection
or receipt. The escrow account must be established in the names of both the managing entity and the municipality in which
the time-share estates are located. No withdrawal may be made from the escrow account without the written agreement of the
municipality.
Prior to the delinquency date established by the municipality in which the time-share estates are located, the managing entity
shall pay to the municipal tax collector all money deposited in the escrow account for the purpose of tax payment. If the
amount paid from the escrow account is not sufficient to discharge all taxes and tax-related costs, due and owing, the managing
entity shall pay the difference and place a lien on those time-share estates whose owners have not contributed to the escrow
account as provided in section 594, and, if requested by the municipality, provide a list identifying those owners and their
interests, including the periods of ownership, to the municipal tax collector who may then proceed to collect the taxes on
those interests as allowed by law.
If the tax collector and treasurer use the lien procedure described in Title 36, sections 942, 942-A and 943 to collect delinquent
taxes on time-share estates, whenever a notice called for by Title 36, section 942, 942-A or 943 is sent to a time-share estate
owner, the tax collector and treasurer shall give to the managing entity or leave at the managing entity's last and usual
place of abode or send to the managing entity by certified mail, return receipt requested, either a copy of the notice sent
to the time-share estate owner or a notice that lists all time-share estate owners to whom notices have been delivered. For
sending the notice or notices to the managing entity, the tax collector or treasurer is entitled to receive $5 plus all certified
mail, return receipt requested fees, plus the cost of any photocopying.
[2003, c. 229, §1 (amd).]
6. Unorganized territory. Time-share estates in the unorganized terrritory shall be taxed according to the provisions of this section, and the State
Tax Assessor shall have all the rights and obligations applicable to a municipality or municipal officers.
[1983, c. 407, §1 (new).]
7. Effect of foreclosure. A governmental entity that acquires ownership of a time-share estate for reasons of tax delinquency, including, but not
limited to, the automatic foreclosure of a tax lien, may not be required to pay for the share of common expenses attributable
to the time-share estate during the period the governmental entity owns the time-share estate if the governmental entity does
not use the time-share estate. Use by a governmental entity includes, without limitation, leasing or renting the time-share
estate. Any unpaid common expenses attributable to the time-share estate accruing during the period of ownership of the time-share
estate by the governmental entity may be charged by the owners' association or managing entity to the purchaser of a foreclosed
time-share estate when the purchaser acquires title to the unit from the governmental entity. The governmental entity shall
disclose in writing to a prospective purchaser of the time-share estate that the purchaser may be charged for the common expenses
attributable to the time-share estate accruing during the period of the governmental entity's ownership.
[2005, c. 275, §1 (new); §2 (aff).]
Section History:
PL 1983,
Ch. 407,
§1
(NEW).
PL 1987,
Ch. 358,
§1,2
(AMD).
PL 1991,
Ch. 197,
§1,2
(AMD).
PL 2003,
Ch. 229,
§1
(AMD).
PL 2005,
Ch. 275,
§1
(AMD).
PL 2005,
Ch. 275,
§2
(AFF).
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 33 - §594. Liens for assessment
Title 33: PROPERTY
Chapter 10-A: TIME SHARES
§594. Liens for assessment
p align="center"> $HN1. Lien created.$HN A person who has a duty to make assessments for time-share expenses or taxes has a lien on a time
share for any assessment levied against that time share or fines imposed against its owner from the time the assessment or
fine becomes due. The lien may be foreclosed in like manner as a mortgage on real estate, or, in the case of a time-share
license, under the Uniform Commercial Code. Unless the time-share instrument otherwise provides, fees, charges, late charges,
fines and interest charged in accordance with the project instrument are enforceable as assessments under this section. If
an assessment is payable in installments, the full amount of the assessment is a lien from the time the first installment
thereof becomes due.
[1983, c. 407, § 1 (new).]
2. Priority. A lien under this section is prior to all other liens and encumbrances on a time share, except:
A. Liens and encumberances recorded before the recordation of the time-share instrument;
[1983, c. 407, § 1 (new).]
B. Mortgages and deeds of trust on the time share securing first mortgage holders and recorded before the due date of the assessment
or the due date of the first installment payable on the assessment;
[1983, c. 407, § 1 (new).]
C. Liens for real estate taxes and other governmental assessments or charges against the time share; and
[1983, c. 407, § 1 (new).]
D. Liens securing assessments or charges made by a person managing a project of which the time-share property is a part. This
subsection does not affect the priority or mechanics or materialmen's liens.
[1983, c. 407, § 1 (new).]
[1983, c. 407, § 1 (new).]
3. Perfection. The lien is perfected upon recording of a notice of lien in the registry of deeds of the county in which the time-share
unit is situated.
[1983, c. 407, § 1 (new).]
4. Extinguishing lien. A lien for unpaid assessments is extinguished, unless proceedings to enforce the lien are instituted within 3 years after
the assessments become payable.
[1983, c. 407, § 1 (new).]
5. Other remedies. This section does not prohibit actions or suits to recover sums for which subsection 1 creates a lien or preclude resort
to any contractual or other remedy permitted by law.
[1983, c. 407, § 1 (new).]
6. Statement furnished. A person who has a duty to make assessments for time-share expenses shall furnish to a time-share owner upon written request
a recordable statement setting forth the amount of unpaid assessments currently levied against his time share. The statement
shall be furnished within 10 business days after receipt of the request and is binding in favor of persons reasonably relying
thereon.
[1983, c. 407, § 1 (new).]
Section History:
PL 1983,
Ch. 407,
§1
(NEW).
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
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